Thank you. And welcome everyone to launch. So Check Point is here for launch, we’re going to keep this interactive again for you, feel free to jump in with question. I have a handful of questions. But Check Point as many of you know has really been the de facto in the standalone security market, if you add all the players behind them up they don’t even get close to the revenue figure. I think it gives you a sense of their scale of standalone vendor, their cash flow has been a standout and we’re really happy to have Tal Payne with us CFO; Kip Meintzer, Head of Investor Relations, many of you know him for quiet sometime, Kip needs to read the Safe Harbor statement.

Kip Meintzer – Head, IR

So we’ll just start off with the Safe Harbor, obviously during the course of the presentation, and subsequent Q&A, there could be some forward-looking statements. They are covered under the Securities and Exchange Act of 1934. As far as the statements are concerned, you can find all the risk factors associated with them in our latest press release or our 20-F file for the year-ending December 31, 2011. And also we make no duty to update any of the forward looking statements that are made. With that, I’ll throw it back to Brent and we’ll go from there.

Brent Thill – UBS

Great. May be at a little high level if you could just help level that, we’ve had a handful of security coming here this week and I think it’s been pretty interesting to hear about how defensive these businesses are. May be if you can just talk through why, your particular industry has been so defensive and why you continue to effectively, all our network spaces continue to outgrow some of the other categories of security.

Tal Payne – CFO

Sure. So first if you look through historical data you will see that in recession period, your tougher macroeconomic environment, security is usually more, it’s not protective completely but the effect is slightly muted because it’s a critical infrastructure, it’s critical for the organization to protect their environment and it’s less of a discount environment and price competitive environment, although there is competition. Its more about the quality of your technology and the value they provide to your customers. So we’ve been seeing it for quite a few recessions and hopefully we’ll go through that one that we might be going through right now.

Brent Thill – UBS

Just on the network side that has been a particular (inaudible) what’s going on there versus what’s you’re seeing just as it relates to some of the end point categories. What’s drawing customers into this?

Tal Payne – CFO

So I think endpoint specifically is more a commoditized environment, network is special since it require very high level of security skill. On the other hand, network going through consolidating in the different adjacent markets of the network.

So if we look historically network security started with a firewall and then there were many different security solutions that appears, there were antivirus, anti-spam, then URL filtering, IPS and so on. And each one was almost like a separate universe that had different competitors that played separately.

Since probably 2005-2006 we see more and more companies requesting to simply this complicated universe and consolidate this functionalities for them. Obviously the higher you go the less you need it, because you have the budget, you have the manpower to maintain all these different security solution, and the lower you go, the more consolidation you need.

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